Bills › 88th General Assembly
Reestablishing individual income tax checkoffs for the Iowa state fair foundation fund and the joint income tax checkoff for the veterans trust fund and the volunteer fire fighter preparedness fund
Sponsored by the Senate Ways and Means Committee
Topics:TaxesIncome taxes
Same legislation: SSB 1258
Where it is now
- Done: IntroducedApril 18, 2019
- Done: SubcommitteeJanuary 16, 2020
- Done: Senate committeeApril 18, 2019
- Stopped: Passes the SenateDied when the General Assembly ended
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
This bill reestablishes the individual income tax checkoff for the Iowa state fair foundation fund and the joint income tax checkoff for the veterans trust fund and the volunteer fire fighter preparedness fund. A checkoff allows a taxpayer who files an individual or a joint income tax return with the department of revenue to designate a dollar amount to be paid to a specific fund included on the individual income tax form. Currently, the following four checkoffs are included on the individual income tax return form: the Iowa state fair foundation fund, the fish and game protection fund, the child abuse prevention program fund, and the joint income tax checkoff for the veterans trust fund and the volunteer fire fighter preparedness fund.
Read the full explanation
12E(1), for tax years beginning on or after January 1, 2017, when the same four income tax return checkoffs have been provided on the individual income tax return for two consecutive years, the two checkoffs for which the least amount has been contributed, in the aggregate for the first tax year and through March of the second tax year, are repealed. The Iowa state fair foundation fund checkoff and the joint income tax checkoff for the veterans trust fund and the volunteer fire fighter preparedness fund received the least amount contributed in the aggregate for the previous tax year and through March of this tax year, and therefore have been repealed by operation of law.12E(1), if the checkoffs have the least amount of contributions in comparison to the other two checkoffs.12E, the date of the repeal is December after the end of the second tax year. For purposes of publishing the Code, the bill requires the department of revenue to notify the Iowa Code editor which two checkoffs received the least amount of contributions during the applicable year, and thereby are repealed by operation of law. The bill also requires the department of revenue to notify the Iowa Code editor when more checkoffs are enacted than there is space for inclusion on the individual income tax return form, and thereby are repealed by operation of law as well.12E just as the other checkoffs are subject to repeal, if the fund is one of two checkoffs receiving the least amount of contributions over a two-year period.
Senate subcommittee
Named January 16, 2020. It hasn’t reported yet.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Fiscal note
The tax checkoffs available on an Iowa individual income tax return are voluntary contributions, and any contribution made represents money donated by the taxpayer and not money diverted from the State General Fund. Reestablishing the two repealed checkoffs will give Iowa taxpayers the opportunity to donate to the two programs through the tax return process for TY 2019 and TY 2020.
- Income Tax Checkoffs · April 24, 2019
Iowa Code it changes
Lobbying
4 for · 0 against · 3 undecided · Who →
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88th General Assembly